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Excise Tax
A type of tax charged on specific goods, such as alcohol and tobacco, often used to discourage their use and generate revenue.
Tax Burden
The measurement of taxes paid by an individual or business, often expressed as a percentage of income or revenue.
Consumers
Consumers are individuals or entities that purchase goods or services for personal use and not for manufacture or resale.
Long Run
The time period in which all inputs can be varied.
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